After 16% rally in three weeks, analysts turn cautious on small-caps

Of the 685 stocks from the smallcap index, more than half or 429 stocks beat the index by gaining over 16 per cent during the period.

Analysts have turned cautious on small-caps after a sharp market rally saw a host of these counters beat their mid-and large-cap peers on absolute return in the past three weeks. The S&P BSE Smallcap index has outperformed the market by surging 16 per cent in the past three weeks as compared to around 15 per cent and 14 per cent rise in the S&P BSE Sensex and the S&P BSE Midcap indices, respectively during this period.

Of the 685 stocks from the smallcap index, more than half or 429 stocks beat the index by gaining over 16 per cent during